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PERSONNEL FUNDING SOLUTIONS

Each year the government offers subsidized personnel solutions for all sized Cyprus Companies to improve the skills and  unemployment rate of people in the Republic. These subsidies are very important as they can reach up to 80% of the payroll cost for the specific employee who enrolls into the system.

 

Typically, the company will have to apply to the appropriate ministry offering the scheme and once selected to employee the person for the work based on the scheme’s specific requirements. In recent years because the approval process from the government is slow it is advisable to employee the candidates prior to the approval in order to meet timeframes set by the programmes. Therefore, the company would employee the candidate and pay for full its wages until the end of the programme at which point the company will request for the subsidy back which takes on average 2 months to be given.

 

If this is of interest to you please contact us to provide you with such solutions at: kt@cyprusaccountants.com.cy

 

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OPEN SUBSIDIES FOR PERSONNEL RECRUITMENT

Currently Available Programs as at 05.10.2021

1. Recently graduated persons

(Σχέδιο Στελέχωσης Επιχειρήσεων με Απόφοιτους Τριτοβάθμιας Εκπαίδευσης)

Overview:

  • <30 years of age
  • Holder of 3 years university diploma
  • No previous experience in the field of the empoyer
  • Term 6 months
  • Minimum salary Euro 950
  • Maximum funding Euro 6,600

Read the actual plan by clicking here (in Greek only)

 

2. Long term unemployed persons

(Σχέδιο Κατάρτισης Μακροχρόνια Ανέργων σε Επιχειρήσεις/Οργανισμούς)

Overview:

  • >30 and < 60 years of age
  • Registered as unemployed for at least 6 months
  • No previous experience in the field of the empoyer
  • Minimum salary Euro 870
  • Term 4 months
  • Maximum funding Euro 4,000

Read the actual plan by clicking here (in Greek only)

Not sure? Send me an email: kt@cyprusaccountants.com.cy